Karen Street, in A Musing Environment, has posted a thorough discussion of gasoline prices. It is well worth reading.
In the long run, the problem with gas prices is the problem with our oil-based society: The supply of oil is finite, so in the long run we must use less of it—and even then eventually we will run out. This and the environmental effects of burning fossil fuels make the private, oil-based automobile untenable in the long term.
We can only get to the long term by finding alternatives to the private automobile, and not just to cars that run on fossil fuels. If everyone drives a private car, everyone will need space to park, and parking lots destroy natural water runoff, trees and grass that can help to mitigate the effect of greenhouse gases, and the beauty of our world, among other things. So does more and more highway construction. We can't go on this way.
The danger is that politicians will not talk about the real problem, instead focusing on the price of fuel, price gouging, and similar issues. These are real problems—high prices hurt ordinary people, and gouging does happen—but they are not the fundamental difficulty.
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